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Search Results 0 to 32 of about 33 (some duplicates have been removed)
Bloomberg
Dec 5, 2013 9:30pm EST
achieve great things. andans, paul allen, the new ownership group of the sacramento kings. >> i think of it as a social network. will turnoping it around a moribund franchise. people. are truly smart andeople like paul jacobs chris kelly. have the mostt wins, but we have the most patents. chris mullin is his personal advisor. >> you have to have a lot of money to buy them. a lot of these guys are successful. they have money and they have passion. >> the kings pose a tough business problem. last season's attendance was the lowest in the league. one of the biggest tech titans of all tried to swoop in and buy the kings and move the team to seattle. >> i came to california with no money. softwareake analytic to help companies like delta airlines understand their data. a mission, you want to build a winning franchise and make the world a better place. just what i do for my software business, integrity, hard work, openness. >> that'll do it for this edition of sportfolio. thank you for watching. sportse video and business coverage, visit our website, bloomberg.com. great to be with you. see
Bloomberg
Dec 10, 2013 5:00pm EST
pays tribute to john, paul, ringo, and george. all that and more over the next hour. but first, let me give you some headlines. mastercard is that with some big news as the markets close. the second-biggest payments network saying the board raise the firm's dividend 83%, and also approved a 10 for one stock split. the company raising its quarterly dividend to $1.10 per share and also authorizing the repurchasing as much as $1.3 billion worth of stock. h&r block reported earnings. the second quarter loss was wider than expected. and shares of starbucks falling the most in almost a year. the coffee company's sales growth in the americas may be slowing. until today, starbucks stock had gained nearly 50% so far this year. those are the top headlines. my radio cohost and bloomberg chief national correspondent carol massar is currently in louisville, kentucky. she got behind the scenes and took a look at ups during one of of year fortimes the company. tell us more. time ofitely a busy year for ubs. in fact, last year at this time, a peak season, 4 million packages in one day. they're gett
Bloomberg
Dec 6, 2013 12:00pm EST
. the gop budget guru paul ryan and the senate budget committee chairman are leading the talks. class i am hopeful paul ryan and patty murray will come to a budget agreement and that they can pass both isles in the senate. -- gave us an update on where they were and i am hopeful they will be able to work this out. there is clearly no agreement. click the clock is ticking. there is still much work to be done. time is running out on a budget agreement. we understand negotiations are we alsong and understand there is no final deal. qwest paul ryan says he does not know if they can reach a deal by friday but does they are working on it. what they are working on is a narrow word he'll, trying to ease sequestration. in case a budget deal is not reached him a lawmakers came up with a short-term bill to fund the government, which runs out of money yet again on january 15th. matt out joined the surveillance team this morning. ultimately put agreement together that is a short-term agreement. to me, we will not get out of the political mess until 2016. we are in a situation where the pres
Bloomberg
Dec 10, 2013 12:00pm EST
camp.ti-volcker >> they're trying to fix something that was not broken. a supporter paul volcker, but i think he is really off that balance of this one. they will figure out a way to get around it. there's too much money to be made. two, the problem was not proprietary trading. this was not about her prior terry trading. we are honest, the fact of the matter is goldman sachs saved itself as a firm by putting on a $4 billion proprietary trade. forget the hedge part. it was a proprietary trade against the mortgage market in december 2006. the firm made $4 billion on one trait alone, made $17 billion pretax profit in 2007 when everyone else was going down the tubes. they save themselves. >> we are going to live with the volcker rule. how should we amend it to make it a value? it, tom, move it to the wastebasket, and drop it in. >> the first thing that regulators need to do is rename the volcker rule the diamond rule because that is the only part of the statute, this regulation, that has any teeth, the hedging part. the idea of tying every risk to every trade will surely throw compliance of
Bloomberg
Dec 6, 2013 7:00pm EST
. good to see you again. paul, how did thursday become the new friday for the box office. >> it has become the new friday. studios love to have midnight screenings on a friday, so that audiences can get in and see a movie, talk about it via the virtual water cooler on facebook or twitter. and by getting to see those movies early they are the first one to talk about it. it it builds buzz for the coming weekend. we love seeing these previous work to -- moved to 8:00 p.m. leading into., midnight screenings. at the end of the day, i don't inc. it affects the bottom line dollar at the end of the run. i think what is going to occur is going to occur. but that weekend is a way to get people into the year earlier. >> what are the benefits for the movie chains? atmore people in the seats 8:00, 10:00, and the night. and they have the opportunity, if the movie is playing really well, to keep it going all night long, if they want to. it is a way to build the attendance in theaters. it is not for every movie. it is only for big movies, like the hunger games -- catching fire. a lot of poor movies
Bloomberg
Dec 4, 2013 10:00pm EST
washington, what kind of response do you get there? whether it is finance committee, rand paul, paul ryan -- >> i went to washington in 1994. in 2011 i knew the demographics. i had very little success. i hadn't even gone to washington this time, because it was my view until the young people show they are going to turn on this issue the people in washington won't give a dam about this. >> he is on the left, and you are somewhere on the right, but on social issues are in the center. what does george say? >> i haven't talked to him. >> why not? >> i haven't gotten around to it. both of his sons like it. this is new for me. i didn't know i was going to do this. it will probably happen in the next month or two. i have been pleasantly surprised by the reception i have gotten from the intellectual left on this issue. when i got to sit down with him and explain my case to them. the stuff i am not saying. i don't want to speak for george, but there will be a time when i will certainly sit down and see what he thinks about it. >> thank you for coming. back in a moment. stay with us. ♪ >> guillerm
Bloomberg
Dec 6, 2013 10:00am EST
. dealmaking, but is small dealmaking. negotiators are getting close. patty murray and paul ryan are on the path to a deal. they still have differences here. the bigger question is, can whatever agreement these to come up with pass muster with their collective colleagues? they will be at it this weekend and communicating with their staffs. the deadline is next friday, december 13. the real deadline is january 15. that is when the government runs out of money. ,he key component of the deal is that spending levels will replace the automatic spending cuts. other areas and some new revenue would not involve any tax increases or major entitlement reforms. none of those big-ticket items. even the smaller deal is proving to be a challenge right now. >> it just seems like every thought that we have had on this set says that we have to have entitlement reform. if those issues are not on the table, what is the point of this? >> the only point is to provide some certainty in the short term. there is a case that we made here, a lot of people are skeptical of. if they can reach the smaller deal in o
Bloomberg
Dec 8, 2013 5:30am EST
dream team of owners. these are truly smart people. >> people like paul jacobs and chris kelly. >> this ownership group has the most patents. we might not have the most wins, but we have the most patents. >> nba hall-of-famer chris mullin is his personal advisor. >> you have to have a lot of money to buy them. a lot of these guys are successful. they have money and they have passion. >> the kings pose a tough business problem. only 8 winning seasons in 28 seasons. last season's attendance was the lowest in the league. one of the biggest tech titans of all tried to swoop in and buy the kings and move the team to seattle. but a group partnered with the city of sacramento and came up with a clever real estate deal to help keep the team in california. >> i came to california with no money. everything i have i owe to the state of california. >> they make analytic software to help companies like delta airlines understand their data. >> i created a mission, you want to build a winning franchise and make the world a better place. >> it is a shot a dream team or can think. >> just what
Bloomberg
Dec 10, 2013 2:00pm EST
several years ago. they have $5 billion in assets under management. with me now, paul, great to see you. x it is christmas in new york. >> that's right. -- >> it's christmas in new york. >> that's right. in the new year, what are your clients telling you? >> i'm feeling pretty good. it has been a good investment year. 100 25%.p up >> people are feeling good but they are cautiously optimistic. people are not overjoyed. as we look at numbers on asset allocation, we see people take money from fixed income. much of it is not going back into the market. a lot of it is going into cash. what the u.s. household net worth actually rose in the third quarter. in theory -- and i know you're dealing with high net worth individuals. in theory people should be feeling very good. you told me there are not the exact same levels of confidence you have seen in the past. >> definitely not. if you think about household net worth going to the highest ever recorded, people were feeling flush. our view is it is going to be a good christmas season but investors over main cautiously the >> what do they want
Bloomberg
Dec 10, 2013 6:00am EST
against the volcker rule from the beginning. i have unbelievable respect for paul volcker, especially what he did as fed chairman, he is such a statement -- statesman, but he lost the plot. >> do you think whatever they will are doing will move off the balance sheet, they will still do it but outside the bank? >> number one, they will figure out a way to get around that because there is too much money to be made. but the problem was with non- proprietary trading. this was not about proprietary trading. the fact of the matter, goldman sachs saved itself by flipping -- putting on a $4 billion proprietary trade. forget the hedge part. it was a proprietary trade against the mortgage market in december of 2006, they made $4 billion on the one trade alone, made $17 billion pretax profit in 2007 when everyone else was going down the truth -- two. tube.going down the >> houston we amended? >> take it, move into the wastebasket and drop it in. >> you hear him say throw within the trash but we will obviously not see it happen. but what kind of legal battles can we expect, wrote? >> -- can we expect
Bloomberg
Dec 6, 2013 8:00am EST
all? >> negotiators do seem to be getting close. we know a house budget chairman, paul ryan budget leader, expected to be added this weekend. if they can get to a deal, that would avoid another government shutdown january 15. it would likely be a small and -- smaller deal. it could be a small as $35 billion. it would head off another round of automatic such cuts known as the sequester. we have artie got some groups fighting this and that includes airlines and federal employees. it includes raising the fees by airline passengers. it also changes federal thatement programs contribute more. congressional leaders yesterday stressed a timeline. a self-imposed headline next week. cave -- gave us an update on where they were. i am hopeful they will be able to work this out. there is clearly no agreement. on ame is running out budget agreement. we understand negotiations are continuing, but we also understand there is no final deal. >> house speaker jon banner -- t present plan to keep >> thank you. megan hughes in washington. moving and shaking this hour, warren buffett, a new study says
Bloomberg
Dec 5, 2013 6:00am EST
. speeches ofe of the the year. paul volcker speaking at the economic club in new york. he was on fire. he was as well when he wrote the volcker rule, i think was four pages long. now it has become 950 pages. it is now the phone book. it in -- it counts five and federal aid -- agencies. regulators want more regulation. tim adams is former undersecretary for international affairs and now with the institute for international finance. he would like to see possibly a little less or smarter regulation. what will banking be like fourth of july of next year if they have to implementing volcker rule? >> it is not just volcker rule but we have wholesale funding and liquidity rules. a whole bunch of things that have to happen. we are still in the middle stages of implementation. it is the cumulative effect we don't know. how can any ceo understand the business model year from now if they don't know how the regulations look like. >> if there mandate -- thier mandate, jamie dimon, jpmorgan, it is to return on equity, do you just presume job cuts? >> i want to presume anything but they do have to meet
Bloomberg
Dec 4, 2013 11:00pm EST
. >> libertarians? is it rand paul we are afraid of? >> there is a small antigovernment group. i don't want to lump all libertarians in. there is a small very radical group who believe this is a good thing, that you should have the freedom and ability to make a gun that is double. it is a small group, but it is a technologically able group. one person put it out there, and thousands of people downloaded his design. there are two issues. one is how congress will deal with it. the senate is considering stronger legislation, which is if you make a plastic gun, you need metal in it that cannot be removed. the senate is debating whether there is a stronger bill. there is another issue, the threat to the industry. >> i believe this is kind of ridiculous. the ability to make a 3-d gun requires a 3-d printer. they are so insanely expensive. yes, there are some cheap renters that printing seizing potter and residents. there are 10,000 dollar printers that meant using colors, but they are hard to set up. if you are going to spend a quarter of a million dollars on the printer, why wouldn't you go
Bloomberg
Dec 10, 2013 10:00am EST
finally done. the rule, first conceived by paul volcker, designed to reduce risk in the financial system by specifically banning banks from trading from their proprietary accounts from the first time, limiting bank investments to hedge funds and private equity. banks will not like the final hedging investment language, that probably stands out the most. they must show that hedging the mitigates one or more specifically identifiable risk, meaning hedging, like the london whale trade. those are not allowed. her must be specific risk that is being offset. more news on market making, their bread and butter business, trades must not exceed the reasonably expected near-term demands of clients, which is pretty broad and it remains to be seen if regulators and thanks agree on what reasonable and near-term might be, it is that kind of enforcement that is so important going forward. they are all expected to adopt the rules in the next hour or so . there will be some no votes in the mix, some regulators who think that this rule goes too far, but this is a victory for those pushing for tougher rule.
Bloomberg
Dec 5, 2013 10:00am EST
is not kyl versus paul, i am just opining on what i think the court case will do. i think he has a larger chance of losing. >> that is today's latin america report. >> a takeover dance that dates almost two months. jos. a bank has gone from hunter to hunted. considering a buyout from men's wearhouse. released third- quarter results this morning. they are gearing up for a conference call underway. cristina alesci has been listening in. any news? >> those are erik's stores. >> it is only going to get bigger and better. they have avoided the question so far. we are just getting into the analysts' questions. it is likely the executive a lot to avoid this. investors are betting on the deal coming together. we have seen the stock price, on both sides -- stock price come up on both sides. the results of a poet jos. a bank -- the results today put even betterin an position. men's wearhouse is in a weaker position. it is easier for them to be the they do not have a ceo. they miss earnings last quarter and they have an activist investor who has been publicly prodding them to do something. in
Bloomberg
Dec 10, 2013 4:00am EST
done my basic accounting course. openedpointless, when i the restaurant, it was myself and the paul washer. no money whatsoever. hours a week 120 for the first eight or nine years. schoola modern business approach. if you need something, buy it, pay for it afterwards. money.ever driven by i just wanted to cut. , we had eight staff in the kitchen, 25 staff in total, and then -- it was so risky, that i am going to make sure that i built something to protect. you have to look into things, allowing your team to grow if you have good talent and the other thing is, the duck is my baby. >> now that you have a successful tv series, at the same time you have the range .ith -- they all of the money that comes in, we have the contract, the book is continual. the tv shows are in production. we also have a deal with cole's. we have a restaurant and a whole new concept next year. there is vision express stuff. i am involved in signing everything. >> how much control do you actually have? about a michelin star chef in the u.k. but did not understand how his name or brand was being used. he was sig
Bloomberg
Dec 8, 2013 8:00pm EST
today. paul's point to the national vote which must be held by may. let's have a look at the prospects of the trading week over there and what happened on friday as well. it was higher by about 0.3%. we could be building on that. a group of investors is said to be considering a bid for the qantas fleet. that would offer the struggling carrier a cash lifeline. let's find out more. is this proposal exactly? i am assuming it is going to be -- >> exactly. these are fairly common transactions in the airline industry. qantas already has a fair amount of its fleet sold, about 2.9 billion according to its latest reports. there is another 7.2 billion there. wooleyoup led by greg has been involved with qantas for a while. been in globally aviation asset management. he was involved with some of the group who was launching the 2007 takeover of qantas. .e has proposed to come forward that would offer qantas a good bit of cash upfront which is going to be helpful after their credit rating was cut to junk i s&p last week. the problem would be their leasing cost would rise as well. you give
Bloomberg
Dec 10, 2013 1:00am EST
franchise do so well over such a long. of time. >> paul sweeney. >> 6:40 a.m. london. a small croatian town is cashing for hbo'sg a backdrop smash hit "game of thrones." fans are traveling there and boosting the local economy. is a city nestled against the adriatic sea. it has been a hit with tv crews and tourist. the medieval time -- medieval town features and the last season of "game of thrones congo thrones,"f and now they are trying to cash in. $75, she runs a tour and draws crowds from across the globe. a lot of people from australia and america, especially younger people who know about the show new the city through that. that sort of introduces them and they want to come here to see where it was filmed. is in thetory middle ages when it was an important trading hub. and damaged by yugoslav troops during the war of independence. now it was to restore its place on the global tourist map. they are hoping that the show will help spread the word. >> sticking with the film references, t rivet -- tv references, if you thought the invisibility cloak was finished with "harry potter" think agai
Bloomberg
Dec 6, 2013 12:00am EST
franchise. >> these are truly smart people. >> people like paul jacobs and chris kelly. >> we might not have the most wins, but we have the most patents. >> chris mullin is his personal advisor. >> you have to have a lot of money to buy them. a lot of these guys are successful. they have money and they have passion. >> the kings pose a tough business problem. last season's attendance was the lowest in the league. averaging fewer than 14,008 night. one of the biggest tech titans of all tried to swoop in and buy the kings and move the team to seattle. >> i came to california with no money. everything i have i/o to the state of california. >> they make analytic software to help companies like delta airlines understand their data. >> i created a mission, you want to build a winning franchise and make the world a better place. just what i do for my software business, integrity, hard work, openness. >> that'll do it for this edition of "sportfolio." thank you for watching. for more video and sports business coverage, visit our website, bloomberg.com. i'm rick horrow, great to be with you. see you
Bloomberg
Dec 9, 2013 9:00pm EST
domestic, that is evidence we're going in the wrong direction. >> ouch, paul ryan, that has to hurt. he was president reagan's top budget man. they're supposed to be in ryan's corner. stockman says going back on the sequestration is a load of, you decide. >> it is a washington beltway lie that we cannot live it with a six hundred billion of outlays for defense. 50% more than we had in 2000. we had no new industrial in the -- enemies with us since then 200 billion more than bill clinton left in today's real dollars. >> can you get behind a deal that comes out of the stocks? >> it is a total joke. i hope at least 70 people would understand if they do not get at entitlement reform it is going to be far worse later. the republicans would be right to reject this a deal. scam.othing but a beltway >> there's plenty more where that came from. he calls janet yellen the architect of fed disaster and says this is dangerous. you can watch online at bloomberg.com/television. we are off to wall street and an exclusive look inside the 2014 outlook. we have a new mega-airline in the skies. we will hear
Bloomberg
Dec 6, 2013 2:00pm EST
. what's likely to happen this weekend? be closer to a deal than first appeared. i'm told that paul ryan and murray, the two negotiators for that house and senate respectively are on a path way to a deal. still remaines over the details. progress is being made is the last word i got. bigger question is to whatever agreement they might be ite to come up with, can pass muster with their colleagues in the house and senate? that's an open question. the two are going to be at it weekend communicating with their staffs, working directly in washington trying to resolve some of the differences between them. deadline is next friday, december 13. but the real deadline they face is january 15. the government, once again, runs out of money. the key components of the deal they're looking at, it would set spending levels for one or two years for the federal government. they're preferring two years it would replace those automatic spending cuts, the sequestration through a mix of savings and some newas and revenue. but it would noint involve any any new taxnvolve increases or title reforms. they are av
Bloomberg
Dec 9, 2013 6:00am EST
reach to avoid a medium-term government shutdown. paul ryan and patty murray will chair the house and senate budget committees, they're working hard to reach a long-term agreement. get that short-term, medium-term, long-term? our correspondent is in charge of terms. peter, i'm budget conferenced worn out. what's different this time? >> tom, i hate to deliver this bad news but on your birthday you will not be getting a grand bargain. the two of them continue their communications over the weekend. they're going to reach by all accounts, they're close to this smaller deal which will effectively replace the sequester cuts over the next two years, cap spending, replace those cuts with other sources of revenue, other fees, things like that. but no mage deer sigses here on taxes or entitlement programs. they're kicking the can down the road. dick doiben the number two senate democrat said negotiations are going in the right direction. >> negotiations are making progress moving in the right direction. they haven't closed the deal. >> they haven't closed the deal. what's needed to close the de
Bloomberg
Dec 9, 2013 3:00pm EST
he played , but one thing is for sure, he is not as effective off court as he is on court. paul smith is a ceo that generates this index on a weekly basis and he joins us now to explain. lower in the rankings than, say, lebron james. how do you measure if an athlete, celebrity, or anyone good spokesman? >> primarily through consumer research and they national representation of the u.s. andetplace i geography demographic. in the poll we ask people about their opinions, their likability, even things -- angles like -- people will say that they would do something another celebrity does, but maybe suggest someone else would, giving more to the story. >> likability, persuasiveness? >> trust. >> is it kind of like a q score? >> kind of. this one is done on a large population basis. >> 1000 americans. >> yes. >> the reality is that the frequency and the fact that we can turn them over on a weekly basis as well, with the other important element being the globalization of products. taking out these international markets around the world. >> let's talk about the names at the top. sports, p
Bloomberg
Dec 9, 2013 8:00am EST
shrinking cyst -- sales. >> this is a model. most of this criticism to paul ryan of wisconsin -- if you make a model, make it a model that can work out. we have not seen that. we have not seen the view forward on paper. of your favorite topics, bitcoin. matt miller is in the process of acquiring bitcoin at this very moment. matt, i want to see this going down. >> i'm a little concerned about having to hand someone $800 in actual money for one bitcoin. we will see how it works out. that may be enough money for a down payment or at least a and theon a fiat 500 italian company hopes to sell a lot more of those, especially in new york. they have a plan to go upscale, upmarket and bring the production for a lot of cars back to italy. in order to do that, he wants to sell more maseratis. he wants to sell more of those fiat 500s and he is going to bring all of the productions and to italy. it will put the luxury stamp. sell jeep grand cherokee's that are made in italy. this is a big $12 billion plan. he will invest 9 billion euros. 4c,s going to build the which he has totally redesigned. h
Bloomberg
Dec 10, 2013 8:00am EST
will be both today to finalize this thing. this was first conceived by paul volcker to reduce the risk in the financial system. not going to be late -- be relieved by what they see but they will at least get certainty and target to shoot for. do not be surprised if this ends up in court. a band for proprietary trading. keep the things from being able to invest in private equity firms and hedge funds. there are specific hedge funds -- it specific rules in this. have these all been made? do you expect once it is approved by the regulators that there will be more changes on wall street? >> i think they will have to read the fine print. a lot of them have already moved out of the hedge funds and private equity investments. that aspect of the role was pretty clear. there was questions about how much of the market making could and 10 you. they will read the fine print as they can do more of the business because it abides by the business or maybe it is right on the edge and is a skill that. it is a significant amount of money. the top five ranks in the country came from the mark it principal
Search Results 0 to 32 of about 33 (some duplicates have been removed)